Stock Traders Purchase Large Volume of Put Options on Maravai LifeSciences (NASDAQ:MRVI)

Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) was the target of some unusual options trading on Wednesday. Investors bought 1,002 put options on the company. This is an increase of approximately 1,791% compared to the average daily volume of 53 put options.

Maravai LifeSciences Price Performance

Shares of NASDAQ MRVI opened at $5.92 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. Maravai LifeSciences has a 1-year low of $4.28 and a 1-year high of $11.56. The business has a 50-day moving average of $7.16 and a 200-day moving average of $8.19. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -3.61 and a beta of 0.02.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wolfe Research started coverage on Maravai LifeSciences in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. William Blair reissued a “market perform” rating on shares of Maravai LifeSciences in a research report on Friday, November 8th. Robert W. Baird lowered their price target on Maravai LifeSciences from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada lowered their price target on Maravai LifeSciences from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company started coverage on Maravai LifeSciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $10.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

Insider Activity

In other Maravai LifeSciences news, insider Carl Hull acquired 175,000 shares of the stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now directly owns 175,000 shares in the company, valued at approximately $987,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. acquired a new position in shares of Maravai LifeSciences in the third quarter worth about $600,000. Barclays PLC lifted its stake in shares of Maravai LifeSciences by 349.2% in the third quarter. Barclays PLC now owns 184,189 shares of the company’s stock worth $1,531,000 after acquiring an additional 143,184 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Maravai LifeSciences in the third quarter worth about $136,000. Geode Capital Management LLC lifted its stake in shares of Maravai LifeSciences by 6.3% in the third quarter. Geode Capital Management LLC now owns 2,752,077 shares of the company’s stock worth $22,874,000 after acquiring an additional 162,601 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Maravai LifeSciences in the third quarter worth about $105,000. Institutional investors and hedge funds own 50.25% of the company’s stock.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company’s products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.